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Mortgage networks keep open mind on expanding

Two of the biggest mortgage networks, Home of Choice and Pink Home Loans, have not ruled out following The Mortgage Times by expanding into other product areas.

The Mortgage Times’ Vision Group confirmed recently that it has applied to the FSA for permission to operate an invest-ment and pension multi-tie.

Home of Choice managing director Gerry O’Brien says although the network was created to be exclusively focused on mortgages, it would “never say never” about expanding into other areas.

O’Brien says: “If we can bring the same innovation to investments as we have to mortgage and associated protection business, then we would certainly consider it.”

PHL managing director David Copland says: “We are a long way off from where The Mortgage Times are in terms of actually applying to the FSA for permissions.”

Network Data chief executive Richard Griffiths says: “I do not think it is a good move, other-wise we would be doing it.”

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